Report: Apple to end partnership with bank that backs Apple Card, savings accounts

Report: Apple to end partnership with bank that backs Apple Card, savings accounts::Goldman Sachs has lost billions of dollars on its consumer-focused businesses.

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wrekone 27 points 3 years ago

people with Goldman-backed credit cards like the Apple Card are actually making their payments less often than people with credit cards from other banks

Who could have possibly seen this coming?

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MacNCheezus 17 points 3 years ago

That’s interesting, because delayed payments are generally where credit card companies make most of their money.

People paying ON TIME and in full are credit card companies’ worst customers because they never pay any interest on their charges.

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wurosh 6 points 3 years ago

True, but the business still pays them plenty. It's not so much that they lose money, it's they they earn less.

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